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Meriden Company has a unit selling price of $780, variable costs per unit of $468, and fixed costs of $213,408.

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Question;Question 1Meriden Company has a unit selling price of $780, variable costs per unit of $468, and fixed costs of $213,408.Compute the break-even point in units using the mathematical equation.Break-even pointunitsQuestion 2For Turgo Company, variable costs are 57% of sales, and fixed costs are $172,500. Management?s net income goal is $87,951.Compute the required sales in dollars needed to achieve management?s target net income of $87,951.Required sales $uestion 3For Kozy Company, actual sales are $1,252,000 and break-even sales are $838,840.Compute the margin of safety in dollars and the margin of safety ratio.Margin of safety $Margin of safety ratio%Don't show me this message again for the assignmentQuestion 4Montana Company produces basketballs. It incurred the following costs during the year.Direct materials $14,665Direct labor $25,536Fixed manufacturing overhead $9,778Variable manufacturing overhead $31,721Selling costs $21,389What are the total product costs for the company under variable costing?Total product costs $Question 5Polk Company builds custom fishing lures for sporting goods stores. In its first year of operations, 2012, the company incurred the following costs.Variable Cost per UnitDirect materials $7.88Direct labor $2.57Variable manufacturing overhead $6.04Variable selling and administrative expenses $4.10Fixed Costs per YearFixed manufacturing overhead $247,604Fixed selling and administrative expenses $252,105Polk Company sells the fishing lures for $26.25. During 2012, the company sold 80,900 lures and produced 95,600 lures.Don't show me this message again for the assignment(a)Assuming the company uses variable costing, calculate Polk?s manufacturing cost per unit for 2012. (Round answer to 2 decimal places, e.g.10.50.)Manufacturing cost per unit $Don't show me this message again for the assignmentLink to TextBy accessing this Question Assistance, you will learn while you earn points based on the Point Potential Policy set by your instructor.Attempts: 0 of 3 used Save for laterSubmit Answer(b)The parts of this question must be completed in order. This part will be available when you complete the part above.(c)The parts of this question must be completed in order. This part will be available when you complete the part above.(d)The parts of this question must be completed in order. This part will be available when you complete the part above.Question 6For the quarter ended March 31, 2012, Maris Company accumulates the following sales data for its product, Garden-Tools: $317,900 budget, $325,800 actual.Prepare a static budget report for the quarter.MARIS COMPANYSales Budget ReportFor the Quarter Ended March 31, 2012Product Line Budget Actual DifferenceGarden-Tools $$$Don't show me this message again for the assignmentLink to TextQuestion 7Gundy Company expects to produce 1,309,800 units of Product XX in 2012. Monthly production is expected to range from 76,690 to 114,810 units. Budgeted variable manufacturing costs per unit are: direct materials $5, direct labor $7, and overhead $11. Budgeted fixed manufacturing costs per unit for depreciation are $5 and for supervision are $1.Prepare a flexible manufacturing budget for the relevant range value using 19,060 unit increments. (List variable costs before fixed costs.)GUNDY COMPANYMonthly Flexible Manufacturing BudgetFor the Year 2012$$$$$$$$$Question 1Garza and Neely, CPAs, are preparing their service revenue (sales) budget for the coming year (2012). The practice is divided into three departments: auditing, tax, and consulting. Billable hours for each department, by quarter, are provided below.Department Quarter 1 Quarter 2 Quarter 3 Quarter 4Auditing 2,350 1,890 2,230 2,680Tax 3,180 2,780 2,330 2,820Consulting 1,820 1,820 1,820 1,820Average hourly billing rates are: auditing $84, tax $95, and consulting $102.Prepare the service revenue (sales) budget for 2012 by listing the departments and showing for each quarter and the year in total, billable hours, billable rate, and total revenue.GARZA AND NEELY, CPAsSales Revenue BudgetFor the Year Ending December 31, 2012Quarter 1 Quarter 2Dept. Billable Hours Billable Rate Total Rev. Billable Hours Billable Rate Total Rev.Auditing$$$$TaxConsulting$$GARZA AND NEELY, CPAsSales Revenue BudgetFor the Year Ending December 31, 2012Quarter 3 Quarter 4Dept. Billable Hours Billable Rate Total Rev. Billable Hours Billable Rate Total Rev.Auditing$$$$TaxConsulting$$GARZA AND NEELY, CPAsSales Revenue BudgetFor the Year Ending December 31, 2012YearDept. Billable Hours Billable Rate Total Rev.Auditing$$TaxConsulting$uestion 2Stanton Company is planning to produce 2,000 units of product in 2012. Each unit requires 2.20 pounds of materials at $6.00 per pound and a half-hour of labor at $13.00 per hour. The overhead rate is 90% of direct labor.(a) Compute the budgeted amounts for 2012 for direct materials to be used, direct labor, and applied overhead.Direct materials $Direct labor $Overhead $(b) Compute the standard cost of one unit of product. (Round answer to 2 decimal places, e.g. 2.75.)Standard cost $Question 3In Harley Company it costs $30 per unit ($18 variable and $12 fixed) to make a product that normally sells for $53. A foreign wholesaler offers to buy 4,310 units at $23 each. Harley will incur special shipping costs of $1 per unit. Assuming that Harley has excess operating capacity.Indicate the net income (loss) Harley would realize by accepting the special order. (If an amount reduces the net income for Increase (Decrease) column then enter with a negative sign preceding the number e.g. -15,000 or parenthesis, e.g. (15,000). Enter all other amounts in all other columns as positive and subtract where necessary.)RejectOrderAcceptOrder Net IncomeIncrease(Decrease)Revenues $$$Costs?ManufacturingShippingNet income/(loss) $$$The special order should beQuestion 4Vintech Manufacturing incurs unit costs of $7 ($5 variable and $2 fixed) in making a subassembly part for its finished product. A supplier offers to make 16,900 of the part at $6.30 per unit. If the offer is accepted, Vintech will save all variable costs but no fixed costs.Prepare an analysis showing the total cost saving, if any, Vintech will realize by buying the part. (If an amount reduces the net income for Increase (Decrease) column then enter with a negative sign preceding the number e.g. -15,000 or parenthesis, e.g. (15,000). Enter all other amounts in all other columns as positive and subtract where necessary.)MakeBuy Net IncomeIncrease(Decrease)Variable manufacturing costs $$$Fixed manufacturing costsPurchase priceTotal annual cost $$$The decision should be to.5)Ridley Company has a factory machine with a book value of $83,800 and a remaining useful life of 6 years. A new machine is available at a cost of $202,000. This machine will have a 6-year useful life with no salvage value. The new machine will lower annual variable manufacturing costs from $615,800 to $426,300.Prepare an analysis showing whether the old machine should be retained or replaced. (If an amount reduces the net income for Increase (Decrease) column then enter with a negative sign preceding the number e.g. -15,000 or parenthesis, e.g. (15,000). Enter all other amounts in all other columns as positive and subtract where necessary.)RetainEquipmentReplaceEquipment Net 6-YearIncomeIncrease(Decrease)Variable manufacturing costs $$$New machine costTotal $$$The old factory machine should be.

 

Paper#37780 | Written in 18-Jul-2015

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